Healthcare shares are flat in pre-market trade.
ISIS Pharmaceuticals (
) said Monday that it has earned a $2 million milestone payment
from GlaxoSmithKline (
) related to the advancement of the ongoing Phase 2/3 study of
ISIS-TTR Rx in patients with familial amyloid polyneuropathy
ISIS-TTR Rx is an antisense drug which ISIS is developing with
GSK for the treatment of transthyretin amyloidosis, a severe and
rare genetic disease characterized by progressive dysfunction of
peripheral nerve and/or heart tissues.
And, UnitedHealth Group (
) affirmed its previous outlook for 2013 net earnings of $5.40 to
$5.50 per share. The Street view is for $5.49 per share, according
to Capital IQ.
UNH management says it will discuss the company's 2014 financial
outlook, which includes revenues of $128 billion to $129 billion
and net earnings of $5.40 to $5.60 per share, tomorrow. The Street
is at $132 billion in revenue and earnings of $5.68 per share.
Finally, Orexigen Therapeutics (
), a biopharmaceutical company focused on the treatment of obesity,
is down 5% in pre-market after it says it has begun a $100 million
private offering of aggregate principal amount of convertible
senior notes due 2020. The company expects to grant the initial
purchasers a 13-day option to purchase up to an additional $15
million aggregate principal amount of such notes.
OREX intends to use the net proceeds from the offering for
working capital and other general corporate purposes.